Orem, Utah-December 2017 UPDATE
According to FINRA records, Brent V. Lott , a stock broker currently employed by Cetera Advisors Network , discloses two pending customer disputes, a prior customer dispute, a currently pending regulatory investigation and a termination from employment.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In October 2013, Brent Lott, was discharged by LPL Financial who made the following allegations on Lott’s FINRA record: “Submitted equity indexed annuity applications without meeting or discussing with clients and violation of the firm’s document signature policy.” Lott was employed by LPL Financial from 4/2006-12/2013.
A customer while Lott was employed by LPL Financial alleges that a third party, acting in concert with Lott, forged customer signature on contract to acquire insurance policy issued by Pacific Life. No specific damages are listed. This matter is currently pending.
A second customer while Lott was employed by LPL Financial alleges that he never met Lott who is listed as the selling agent for his variable annuity contracts and that Mr. Lott may be aware that the signatures on the contract delivery receipts are not those of the customer. No specific amount of damages is alleged. This matter is currently pending.
In July 2017 FINRA commenced an investigation of Lott for violations of FINRA Rules 2010 and 4511.
FINRA Rule 2010, Standards of Commercial Honor and Principles of Trade states: “A member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.”
FINRA Rule 4511 relates to the the preservation of accurate books and records and requires brokers and firms to maintain them in accordance with applicable SEC rules.
After leaving LPL Financial in 11/2013, Lott was employed by Girard Securities until 11/2017, when he joined Cetera Advisor Network.
If you have questions about an account handled by Brent Lott, call for a no charge consultation.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Rex Securities Law
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